Tuesday, March 30, 2021

No denial of Sec. 10(23C) exemption without concluding that assessee was generating profit from examination fees

INCOME TAX : Where no material was available to conclude that assessee, a State Examination Board, generated profit by charging fees for conducting examination, exemption under section 10(23C) could not be denied on ground that it was not an educational institution

from www.taxmann.com Latest Case Laws https://ift.tt/2QFjQVd

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...